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Comcast and Time Warner Cable are in discussions with smaller cable provider Charter to sell up to $20 billion worth of assets, according to a Financial Times report.
The move comes as Comcast awaits a decision about its tentative merger with TWC, the second-largest cable and Internet service provider in the U.S., from federal regulators.
The assets Comcast and TWC are selling include operations in select markets that account for 3 million to 5 million subscribers. Selling subscribers was something that Comcast initially planned to do upon announcing the merger last month. And with Charter making a failed attempt to purchase TWC last year, it’ll be interested in increasing its cable service market share.
One alternative option Comcast and TWC are discussing, according to FT‘s sources, would be to section off those same 5 million subscribers into a standalone company that Charter would then take a stake in.
Either way, it looks like Comcast will be giving up subscribers.